Shares of Lazard, Inc. (NYSE:LAZ – Get Free Report) have been assigned a consensus rating of “Hold” from the ten analysts that are currently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $46.50.
Several research firms recently commented on LAZ. Citigroup restated a “market outperform” rating on shares of Lazard in a research report on Friday, July 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Lazard in a report on Tuesday, October 27th. Capital One Financial set a $38.00 price objective on shares of Lazard in a research report on Tuesday, October 6th. Morgan Stanley lowered their target price on shares of Lazard from $41.00 to $40.00 and set an “underweight” rating on the stock in a research note on Friday, October 23rd. Finally, Keefe, Bruyette & Woods dropped their target price on Lazard from $44.00 to $42.00 and set a “market perform” rating on the stock in a research report on Friday, July 24th.
Check Out Our Latest Report on LAZ
Lazard Trading Down 0.6%
Shares of NYSE:LAZ opened at $38.30 on Tuesday. Lazard has a 12-month low of $34.13 and a 12-month high of $58.75. The company has a market capitalization of $4.20 billion, a PE ratio of 23.21, a PEG ratio of 2.00 and a beta of 1.47. The business has a 50 day moving average of $38.27 and a two-hundred day moving average of $43.98. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 1.80.
Lazard (NYSE:LAZ – Get Free Report) last posted its earnings results on Thursday, October 22nd. The asset manager reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.06). Lazard had a net margin of 5.55% and a return on equity of 20.76%. The firm had revenue of $804.62 million for the quarter, compared to analysts’ expectations of $844.23 million. During the same period last year, the firm earned $0.56 earnings per share. Lazard’s revenue for the quarter was up 8.8% compared to the same quarter last year. As a group, analysts forecast that Lazard will post 1.34 EPS for the current year.
Lazard Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Monday, November 2nd will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, November 2nd. This represents a $2.00 dividend on an annualized basis and a yield of 5.2%. Lazard’s dividend payout ratio is presently 121.21%.
Insiders Place Their Bets
In other Lazard news, CEO Peter Orszag sold 125,000 shares of the stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $43.52, for a total transaction of $5,440,000.00. Following the transaction, the chief executive officer owned 260,942 shares in the company, valued at approximately $11,356,195.84. This represents a 32.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.95% of the company’s stock.
Institutional Trading of Lazard
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Covestor Ltd lifted its position in shares of Lazard by 229.6% during the 3rd quarter. Covestor Ltd now owns 847 shares of the asset manager’s stock valued at $31,000 after buying an additional 590 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in Lazard in the 2nd quarter valued at $36,000. Compass Financial Management LLC purchased a new stake in Lazard in the 2nd quarter worth $41,000. Allworth Financial LP purchased a new stake in Lazard in the 2nd quarter worth $42,000. Finally, GAMMA Investing LLC increased its holdings in Lazard by 37.2% in the 3rd quarter. GAMMA Investing LLC now owns 1,872 shares of the asset manager’s stock worth $68,000 after acquiring an additional 508 shares in the last quarter. 54.80% of the stock is currently owned by hedge funds and other institutional investors.
Lazard Company Profile
Lazard, Ltd. is a global financial advisory and asset management firm that serves corporations, financial institutions, governments, sovereign entities and individuals. Its Financial Advisory business provides advice on mergers and acquisitions, strategic matters, capital structure, restructuring, capital raising and other complex financial transactions.
Through its Asset Management business, Lazard offers investment strategies across equities, fixed income, private markets, alternatives and multi-asset portfolios.
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